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A video explaining CGL's requirements



See the full video here: https://youtu.be/WoQzgOK375gebrit19659002achteThe insurance industry spent 10 years trying to limit its liability for long tail losses. They tried wording that would prohibit stacking, as well as wording that would only allow coverage for losses that were first discovered during the insurance period. "Claims" formulation, which would only allow coverage in the event of a statement of claim, and limited "event" coverage was also attempted.

In the end, the decision was made by ISO and its supporters to use a claim on the application, providing coverage only if the loss occurs and the claim is made to the insurer during the insurance period. This eliminates the claim to long tails. Although effective, the requirement for CGL proved to be almost impossible to sell to the public. People in the construction industry would be vulnerable and probably uninsured to all but the most obvious shortcomings, especially with long restrictions or rules on reuse.

An important purpose of the alleged policy is to prevent the stacking of borders or policies, as well as to eliminate uncertainty regarding the policies that will apply to a given issue. This is accomplished by concentrating on the time a claim is received instead of struggling with the problem of determining the date of the "event". The date of the "event" is usually determined by the date on which the damage was actually caused. Some courts have changed this simple rule to provide coverage where no one was intended. The claims made in the form avoid such "social engineering."

If, for example, a builder had a Claims Made policy, there would be no coverage for a claim for incorrect construction:

  • submitted nine years and eleven months after substantial completion of the structure; or
  • where the builder tried to fix the problem two years before only to have the roof leak again because the claim was made before the policy was initiated.

Pressure from several groups resulted in an alternative event formulation. In certain claims made, both the damage caused and the claim must be made during the insurance period. In others, the claim must be made during the political period and the loss-causing event can occur at any time.


© 2020 – Barry Zalma

Barry Zalma, Esq., CFE, now limits his practice to employment as an insurance consultant specializing in insurance coverage, handling insurance claims, bad faith and insurance fraud more equally for insurance policyholders. . He also acts as arbitrator or mediator for insurance-related disputes. He practiced law in California for more than 44 years as an insurance protection and attorney management attorney and more than 52 years in the insurance industry. He is available at http://www.zalma.com and zalma@zalma.com.

Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.

For the past 52 years, Barry Zalma has dedicated his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to enable insurance companies and their claims staff to become insurable.

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